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Fatca Foreign Bank Reporting Letter

Fatca Foreign Bank Reporting Letter

Three Must Dos if You Get a Foreign Bank FATCA Reporting Letter Save If you received a letter request from a foreign bank to report FATCA required tax identification information there are three things you must do: 1. Get professional legal and tax advice before June...
Fatca Compliance Checklist

Fatca Compliance Checklist

FATCA COMPIANCE CHECKLIST What is FATCA? FATCA is the acronym for the Foreign Account Tax Compliance Act.  Its provisions can be found in the Internal Revenue Code of 1986, as amended (the Code), Sections 1471, 1472 and 1473. It was added to the law in 2010, but many...

Fatca Tax Traps And Watch Outs

Fatca Tax Traps And Watch Outs           No Asset Too Small.  If the Threshold is reached for the aggregate of all Specified Foreign Financial Assets, all such Specified Foreign Financial Assets must be disclosed, even if the value is less than zero (an asset with a...